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Webinar: Post-Yellen USD Advance at Risk into Monthly Close / NFP

Webinar: Post-Yellen USD Advance at Risk into Monthly Close / NFP

2016-08-29 16:18:00
Michael Boutros, Strategist
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  • Setups in focus ahead off key event risk this week
  • Updated targets & invalidation levels

Fed Chair Yellen’s remarks last week saw probabilities for a December rate hike rise with the greenback finding some footing on this rally. The immediate risk is higher but we’re on the lookout for some near-term exhaustion on some of the USD crosses.

Note that we are heading into the close of August trade with NFPs on tap ahead of an extended U.S. holiday weekend. That’s all to say, near-term trading in these market conditions are difficult and as such it’s prudent to be a bit more selective with intraday positions and lower leverage heading into the start of September trade.

Key setups discussed on USDOLLAR, USDJPY, EURUSD, AUDUSD, GBPUSD, GBPNZD, NZDUSD, AUDNZD, Gold, Crude Oil, USDCAD. Continue tracking these setups and more throughout the week- Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount.

Check out SSI to see how retail crowds are positioned as well as open interest heading into the close of June trade.

Relevant Data Releases

Webinar: Post-Yellen USD Advance at Risk into Monthly Close / NFP

Help fine-tune you entries, click here to learn more about the DailyFX Grid Sight Index (GSI)

Other Setups in Play:

Looking for trade ideas? Review DailyFX’s 2016 2Q Projections

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list

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